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We have the cost at which the cooler was purchased by the retailer = Rs. 1200

The overhead expenses that were taken up by the retailer = Rs. 40

The amount for which the cooler was sold by the retailer = Rs. 1550

Hence the gain earned by the retailer = Rs 1550-Rs (1200+40) = Rs. (1550-1240) =Rs. 310

(Because the overhead charges are also taken up by the retailer, so, they also go into the cost price)

Hence the gain earned by the retailer is equal to Rs.310

Gain percentage is defined as the amount of gain earned per 100 units of cost price.

We have, the gain on Rs 310 of C.P = Rs. 1240

Hence, we have

The gain on Re. 1 of C.P $=\dfrac{310}{1240}=\dfrac{1}{4}$

Hence gain per Rs. 100 of C.P $=\dfrac{1}{4}\times 100=25\%$

$gain\%=\dfrac{gain}{C.P}\times 100$

Substituting the values of gain and C.P, we get,

$gain\%=\dfrac{310}{1240}\times 100=25\%$

Also, the students must remember to add Rs. 40 to Rs. 1200 to get the total cost price, else it will lead to error in the final answer.

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